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Microsoft Word - 2014-11-14 extension to FQM JV
17 November 2014
COMPLETION OF
ESE JOINT VENTURE AGREEMENT EXTENDED
On 20 October 2014,
African Energy Resources (the "Co
pany") announced it h ad executed a heads of
agreement under which First Quantum Minerals (FQM) will make an investment to acq uire a majority interest in
the Sese Coal & Power Project once certain conditions preced
nt are satisfied.
The term to satisfy conditions precedent has been extended to 1 December 2014 to alllow for the finalisation of a Shareholders Agreement and for FQM to complete due diligence.
For any further information, please refer to the Company's
6465 5500.
For and on Behalf of the Board
ebsite or contact the C ompany directly on +61 8
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African Energy Resources Limited
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DEVELOPMENT STAGE |
CODE : AFR.AX |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
African Energy is a uranium exploration company based in Australia. African Energy holds various exploration projects in Malawi, in Zambia and in Zimbabwe. Its main asset in development is GWABE (CHIRUNDU) in Zambia and its main exploration properties are NORTHERN LUANGWA VALLEY, LUANO VALLEY, ALDERSHOT, KARIBA VALLEY JV, CHIRUNDU JV, NJAME, LUANO and CENTRAL LUANGWA VALLEY in Zambia, SESE in Botswana and KARIBA in Zimbabwe. African Energy is listed in Australia. Its market capitalisation is AU$ 20.1 millions as of today (US$ 14.5 millions, € 12.7 millions). Its stock quote reached its highest recent level on February 25, 2011 at AU$ 1.00, and its lowest recent point on March 20, 2020 at AU$ 0.01. African Energy has 609 000 000 shares outstanding. |